Finance Act 2010

2 (1) Section 85 of TIOPA 2010 (schemes about effect of paying foreign tax) is amended as follows. U.K.

(2) In subsection (2)—

(a) for paragraph (a) substitute—

“(a) an amount of foreign tax (“the FT amount”) is paid or payable by C, and”, and

(b) in paragraph (b), for “of the payment of the FT amount on the foreign-tax total” substitute “ on the foreign-tax total of the FT amount being so paid or payable ”.

(3) In subsection (3), in paragraph (b) of the definition of “the foreign-tax total”, for “the payment by C of the FT amount” substitute “ the FT amount being paid or payable by C ”.